Investment platform Metaplanet, based in Tokyo, has recently made a significant Bitcoin purchase, adding 1,088 $BTC to its assets.
Details of the Bitcoin Purchase
The recent purchase of 1,088 $BTC is valued at $117.3 million. This brings Metaplanet's total Bitcoin holdings to 8,888 $BTC, amounting to approximately $932 million. The average price per $BTC in this acquisition stands at $108,633, raising the platform's average purchase cost to $96,297.
Bitcoin Accumulation Strategy
This acquisition highlights the company's strong conviction in accumulating Bitcoin as a primary treasury asset. It mirrors the aggressive accumulation approach taken by leading corporate Bitcoin holders. The platform utilizes a strategy of persistent dollar-cost averaging (DCA) and convertible bonds, enabling it to occupy a prominent status among major Bitcoin treasuries.
Market and Investment Reaction
According to Lookonchain, Metaplanet's new acquisition of 1,088 $BTC positions it at the forefront of corporate Bitcoin accumulation. Concurrently, the platform's share price has also seen a notable increase, reflecting strong investor sentiment. With growing institutional optimism and increasing demand for top crypto assets, the platform is expected to reach new milestones in the future.
Thus, Metaplanet is demonstrating an active approach to accumulating Bitcoin, reflecting confidence in the growing cryptocurrency market and interest from institutional investors.
